Lloyds Bank bosses were slapped with a record £28 million fine by regulators yesterday for forcing front-line staff to flog products to customers or face pay cuts and demotion.

The Financial Conduct Authority (FCA) said it had imposed its highest ever fine over a bank's high street operations for "serious failings" in bonus schemes linked to a tidal wave of mis-selling.

Bosses bullied workers to sign up customers by threatening them with pay cuts of up to 50 per cent.